Intech Investment Management LLC Lowers Stock Position in Viasat Inc. $VSAT

Intech Investment Management LLC cut its stake in shares of Viasat Inc. (NASDAQ:VSAT) by 40.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 219,270 shares of the communications equipment provider’s stock after selling 147,233 shares during the quarter. Intech Investment Management LLC owned 0.16% of Viasat worth $6,425,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in VSAT. Quent Capital LLC bought a new stake in shares of Viasat during the 3rd quarter worth $25,000. Hantz Financial Services Inc. increased its stake in Viasat by 6,815.4% in the third quarter. Hantz Financial Services Inc. now owns 899 shares of the communications equipment provider’s stock valued at $26,000 after acquiring an additional 886 shares during the last quarter. Salomon & Ludwin LLC purchased a new stake in Viasat during the third quarter valued at about $28,000. Activest Wealth Management bought a new stake in Viasat during the third quarter worth about $44,000. Finally, Delos Wealth Advisors LLC bought a new stake in Viasat during the second quarter worth about $45,000. Institutional investors own 86.05% of the company’s stock.

Viasat Stock Performance

NASDAQ:VSAT opened at $45.78 on Friday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.90 and a current ratio of 2.13. Viasat Inc. has a fifty-two week low of $7.36 and a fifty-two week high of $50.24. The firm has a market cap of $6.22 billion, a PE ratio of -17.68 and a beta of 1.47. The business has a 50 day moving average price of $42.36 and a 200-day moving average price of $36.31.

Insider Buying and Selling at Viasat

In related news, CEO Mark D. Dankberg sold 200,000 shares of the business’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $35.09, for a total transaction of $7,018,000.00. Following the transaction, the chief executive officer owned 1,534,993 shares in the company, valued at $53,862,904.37. The trade was a 11.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Camellia E. Fitzgerald sold 2,810 shares of the company’s stock in a transaction that occurred on Wednesday, January 28th. The shares were sold at an average price of $48.00, for a total value of $134,880.00. Following the transaction, the chief accounting officer directly owned 9,946 shares of the company’s stock, valued at $477,408. The trade was a 22.03% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 354,290 shares of company stock worth $13,059,722. 2.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on VSAT shares. JPMorgan Chase & Co. upgraded Viasat from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $23.00 to $50.00 in a research report on Tuesday, November 11th. Morgan Stanley set a $51.00 target price on Viasat in a research note on Friday, January 16th. Deutsche Bank Aktiengesellschaft upgraded shares of Viasat from a “hold” rating to a “buy” rating and increased their price target for the company from $36.00 to $48.00 in a research report on Friday, February 6th. William Blair restated an “outperform” rating on shares of Viasat in a report on Tuesday, January 13th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $45.00 target price on shares of Viasat in a report on Wednesday, January 21st. Six equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Viasat currently has a consensus rating of “Moderate Buy” and an average price target of $45.86.

Viasat Profile

Viasat, Inc (NASDAQ: VSAT) provides high‐capacity satellite broadband and wireless communications services to consumer, commercial and government customers worldwide. The company designs and operates satellite systems and network infrastructure to deliver secure, high-speed connectivity across remote and underserved regions, as well as managed networking solutions for enterprises and public sector agencies.

Viasat’s product offerings include residential and enterprise satellite internet services, in-flight connectivity for commercial airlines and business jets, and secure networking platforms tailored to defense and intelligence users.